Voisard Asset Management Group Inc. Decreases Stock Position in Celanese Co. (NYSE:CE)

Voisard Asset Management Group Inc. reduced its position in Celanese Co. (NYSE:CEFree Report) by 28.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 336 shares of the basic materials company’s stock after selling 131 shares during the period. Voisard Asset Management Group Inc.’s holdings in Celanese were worth $46,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Celanese by 109.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,047 shares of the basic materials company’s stock worth $4,133,000 after acquiring an additional 12,553 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Celanese by 14.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 122,259 shares of the basic materials company’s stock valued at $21,011,000 after buying an additional 15,643 shares during the last quarter. Cetera Advisors LLC raised its stake in Celanese by 447.8% during the 1st quarter. Cetera Advisors LLC now owns 7,072 shares of the basic materials company’s stock valued at $1,215,000 after buying an additional 5,781 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Celanese by 41.4% during the 1st quarter. BNP Paribas Financial Markets now owns 128,423 shares of the basic materials company’s stock valued at $22,071,000 after buying an additional 37,577 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in Celanese by 264.2% during the 1st quarter. Bessemer Group Inc. now owns 19,441 shares of the basic materials company’s stock valued at $3,342,000 after buying an additional 14,103 shares during the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Scott A. Richardson sold 4,675 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $129.51, for a total value of $605,459.25. Following the completion of the sale, the chief operating officer now directly owns 69,754 shares of the company’s stock, valued at $9,033,840.54. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company’s stock.

Celanese Price Performance

NYSE:CE opened at $127.02 on Thursday. The firm has a market capitalization of $13.87 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 0.70 and a beta of 1.30. Celanese Co. has a 1 year low of $110.76 and a 1 year high of $172.16. The business has a 50 day simple moving average of $130.03 and a 200-day simple moving average of $139.09. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.28 and a quick ratio of 0.74.

Celanese (NYSE:CEGet Free Report) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.71 by ($0.33). The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.76 billion. Celanese had a net margin of 18.24% and a return on equity of 13.60%. Celanese’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.17 earnings per share. Equities analysts forecast that Celanese Co. will post 10.32 EPS for the current year.

Celanese Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Wednesday, October 30th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, October 30th. Celanese’s payout ratio is 15.41%.

Analysts Set New Price Targets

CE has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Celanese from $160.00 to $135.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Royal Bank of Canada decreased their target price on shares of Celanese from $167.00 to $163.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. BMO Capital Markets reduced their price objective on Celanese from $142.00 to $138.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. UBS Group cut their price target on Celanese from $193.00 to $184.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Piper Sandler cut Celanese from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $180.00 to $150.00 in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $151.44.

View Our Latest Stock Report on CE

About Celanese

(Free Report)

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.

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Institutional Ownership by Quarter for Celanese (NYSE:CE)

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